Officials worked to minimize the impact of expenses and reduced previously projected mill rate of 24.60 down to an estimated 22.20. That equates to a roughly 4.2% increase over last year's property tax rate.
Most of the spending increase comes from a $239,000 tax abatement the city must pay in the upcoming fiscal year to Granite Hill Estates, an apartment and assisted living complex for older adults at 60 Balsam Drive.
The health care company is poised to sell the senior living complex to Massachusetts-based Northbridge Company, which owns five senior living facilities in Maine.
Assisted living facility finally breaks ground in Marblehead wickedlocal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wickedlocal.com Daily Mail and Mail on Sunday newspapers.
Boston-based Rendever will use a $2 million National Institute on Aging grant to study the effects of its virtual reality platform on senior living residents and their families.